From tech giants like Meta and Microsoft to fashion kings like Gucci everyone is spreading their horizons in the metaverse.

Metaverse is a hot topic in the tech industry. As 2020 was such a massive year for the metaverse and Non-Fungible Tokens (NFTs), from tech giants like Meta and Microsoft to fashion kings like Gucci everyone is spreading their horizons in the metaverse. Nowadays, metaverse land also known as NFT land is getting popular. The landowner can normally use their plot to host online experiences, display content, or gain benefits in a game. Large brands and celebrities, including Adidas and Snoop Dogg, are also beginning to invest in and use NFT land. Recently, Meta (formerly known as Facebook), has a new feature aimed at cutting down on harassment and assault in virtual reality: It will give avatars in its Horizon Worlds social app and Horizon Venues events app an invisible "personal boundary" of four feet to stop others from getting too close.

Metaverse land or NFT land is an ownable area of digital land on a metaverse platform. Popular NFT land projects include Decentraland, The Sandbox, and Axie Infinity. NFTs are suited to representing land ownership as each one is unique and easily proves digital ownership. You can use NFT land for advertising, socializing, gaming, and work, among other use cases.

What is the metaverse?

The metaverse is a seamless convergence of our physical and digital lives, creating a unified, virtual community where we can work, play, relax, transact and socialize. The metaverse is still early in its evolution, and there is no singular, all-encompassing definition to which people can turn. Themes of what the metaverse is and could be, however, are emerging. A key point is that there is no one virtual world but many worlds, which are taking shape to enable people to deepen and extend social interactions digitally. This is done by adding an immersive, three-dimensional layer to the web, creating more authentic and natural experiences. The metaverse even has the promise of facilitating accessibility from the comfort of the home, breaking down boundaries, and democratizing access to key goods, services and experiences.

What is NFT virtual land?

As mentioned, metaverse projects are digital worlds that users can usually explore with 3D avatars. SecondLive, for example, provides areas and venues for concerts, conferences, and expositions. While projects like SecondLive don't let users purchase a permanent virtual reality space, other metaverse worlds do. Developers create large maps of land divided into small parcels to sell on the market.

To represent the unique ownership of the area, users purchase NFTs linked to a particular plot of land. You can purchase these plots through a land sale directly from the projector on the secondary market. Exactly what you can do with NFT land depends on each project.

What are the use cases of metaverse land?

Apart from speculation, landowners can use their virtual space in various use cases:

1. Advertising– If your plot is in a popular area or district and attracts many visitors, you can charge for advertising space.

2. Socializing-You can host events on your digital land, including concerts, conferences, and community meetups.

3. Gaming– Your NFT land might have a use in an NFT video game. For example, land in Axie Infinity can provide extra resources, tokens, and crafting ingredients.

4. Work– Land that can be explored with a 3D avatar can be used as a virtual office space or to provide digital services. PwC Hong Kong will use The Sandbox land in their Web 3.0 advisory services.

The boundary system builds on an existing feature that could make users' hands disappear if they got too close to another avatar. As described by Meta, it gives everyone a two-foot radius of virtual personal space, creating the equivalent of four virtual feet between avatars. Meta spokesperson Kristina Milian confirmed that users can't choose to disable their personal boundaries since the system is intended to establish standard norms for how people interact in VR. However, future changes could let people customize the size of the radius.

If someone tries to walk or teleport within your personal space, their forward motion will stop. However, Milian says that you can still move past another avatar, so users can't do things like use their bubbles to block entrances or trap people in virtual space.

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